China's economy grew 4.9% in the third quarter of 2021
Hong Kong China's economy grew just 4.9% in the third quarter of 2021, the weakest rate of expansion in a year as the country contends with a major energy crunch, supply chain disruptions, and deepening debt woes in its outsized property sector.
The rate of growth from a year ago in the July-to-September period was much slower than the 7.9% year-on-year increase China registered in the second quarter. It's also the weakest rate of growth since the third quarter of 2020, when GDP also grew 4.9% year-on-year. The data from China's National Bureau of Statistics suggests that China's economy is hurting from a slew of challenges over the last few months.
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